Home Highlights June 2014 Year 2014 This

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1. Computation of LTCG - Based on a reading of Section 50CA of the Act, it is clear that where the actual sale consideration on transfer of unlisted equity shares is less...

2. Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

3. Addition u/s 56(2)(viia) - purchase of shares at price more than its fair market value - The tribunal extensively reviewed the submissions and evidence presented,...

4. Reopening of assessment u/s 147 for assessing Long Term Capital Gain on sale of land in Financial Year 2005-06. Assessing Officer (AO) adopted full value consideration...

5. Sale of shares allotted to the assessee under employee stock option plan[ ESOP] and taking the sale value above fair market value as income from other source u/s 56 (2)...

6. The Income Tax Appellate Tribunal (ITAT) examined the addition made u/s 56(2)(viib) for the difference between the market value and consideration received for shares...

7. Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of...

8. Correct head of income - sale consideration received by the assessee from redemption of preference shares including the premium- capital income or income from other...

9. LTCG - reference to the DVO for determining the fair market value of the asset - Assessing Officer has no power to make a reference if the value shown by assessee is not...

10. Assessee failed to declare Long Term Capital Loss (LTCL) on sale of shares of ECL and Long Term Capital Gain (LTCG) on sale of shares of Saya in the return of income....

11. LTCG - Determination of Fair Market Value (FMV) - The Assessing Officer and the Commissioner of Income Tax (Appeals) accepted the fair market value of the property as on...

12. Capital gain computation - Fair Market Value as on 01.04.1981 u/s 55(2)(b)(i) - the fair market value of the impugned immovable property should be adopted at Rs....

13. Addition u/s 56(2)(viia) - shares received by the assessee company on account of amalgamation, for a price lower than the Fair Market Value (F.M.V) of the shares -...

14. Addition under section 56(2)(viia) - aggregate FMV of the shares of IHPL and VDPL, exceeding the consideration added as Income from Other Sources - - The Rules in this...

15. AO rejected registered valuer's report for cost of acquisition and relied on section 55A. ITAT held that if AO was unsatisfied with registered valuer's report, he should...